Integrated Investment Consultants LLC Acquires New Holdings in Tapestry, Inc. (NYSE:TPR)

Integrated Investment Consultants LLC acquired a new stake in Tapestry, Inc. (NYSE:TPR) during the first quarter, Holdings Channel.com reports. The firm acquired 17,168 shares of the luxury accessories retailer’s stock, valued at approximately $1,209,000.

Other institutional investors have also made changes to their positions in the company. Greenline Partners LLC bought a new position in shares of Tapestry in the 4th quarter valued at approximately $29,000. Coppell Advisory Solutions LLC raised its stake in shares of Tapestry by 40.7% in the 4th quarter. Coppell Advisory Solutions LLC now owns 519 shares of the luxury accessories retailer’s stock valued at $34,000 after acquiring an additional 150 shares in the last quarter. Opal Wealth Advisors LLC acquired a new stake in Tapestry in the 1st quarter valued at approximately $35,000. MorganRosel Wealth Management LLC acquired a new stake in Tapestry in the 1st quarter valued at approximately $35,000. Finally, Canada Post Corp Registered Pension Plan acquired a new stake in Tapestry in the 4th quarter valued at approximately $48,000. 90.77% of the stock is owned by institutional investors.

Tapestry Price Performance

Shares of TPR stock opened at $108.37 on Friday. The stock’s fifty day simple moving average is $88.21 and its 200 day simple moving average is $78.80. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.76 and a quick ratio of 1.22. The firm has a market cap of $22.51 billion, a price-to-earnings ratio of 28.52, a P/E/G ratio of 2.24 and a beta of 1.47. Tapestry, Inc. has a one year low of $35.23 and a one year high of $110.22.

Tapestry (NYSE:TPR) last announced its quarterly earnings results on Thursday, May 8th. The luxury accessories retailer reported $1.03 EPS for the quarter, beating the consensus estimate of $0.89 by $0.14. The business had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.53 billion. Tapestry had a return on equity of 51.84% and a net margin of 12.50%. Tapestry’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.81 EPS. On average, analysts expect that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal year.

Tapestry Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 23rd. Investors of record on Friday, June 6th were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.29%. The ex-dividend date was Friday, June 6th. Tapestry’s dividend payout ratio is 36.84%.

Insider Buying and Selling at Tapestry

In related news, CEO Todd Kahn sold 40,000 shares of the business’s stock in a transaction on Monday, May 12th. The stock was sold at an average price of $81.40, for a total value of $3,256,000.00. Following the sale, the chief executive officer owned 116,062 shares of the company’s stock, valued at $9,447,446.80. The trade was a 25.63% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Manesh Dadlani sold 1,399 shares of Tapestry stock in a transaction on Monday, May 12th. The shares were sold at an average price of $81.88, for a total value of $114,550.12. Following the completion of the transaction, the vice president owned 40,922 shares of the company’s stock, valued at approximately $3,350,693.36. The trade was a 3.31% decrease in their position. The disclosure for this sale can be found here. 1.18% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. The Goldman Sachs Group raised their target price on Tapestry from $84.00 to $93.00 and gave the company a “buy” rating in a report on Friday, May 9th. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $100.00 target price (up previously from $90.00) on shares of Tapestry in a report on Wednesday, May 14th. Morgan Stanley raised Tapestry from an “equal weight” rating to an “overweight” rating and set a $90.00 target price on the stock in a report on Thursday, May 8th. UBS Group raised their target price on Tapestry from $68.00 to $73.00 and gave the company a “neutral” rating in a report on Friday, May 9th. Finally, Argus raised their target price on Tapestry from $78.00 to $92.00 and gave the company a “buy” rating in a report on Tuesday, June 17th. Three investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat, Tapestry presently has an average rating of “Moderate Buy” and a consensus price target of $90.83.

About Tapestry

Tapestry, Inc provides luxury accessories and branded lifestyle products in the United States, Japan, Greater China, and internationally. The company operates in three segments: Coach, Kate Spade, and Stuart Weitzman. It offers women’s handbags; and women’s accessories, such as small leather goods which includes mini and micro handbags, money pieces, wristlets, pouches, and cosmetic cases, as well as novelty accessories including address books, time management and travel accessories, sketchbooks, and portfolios; and belts, key rings, and charms.